A thing is worth exactly what another is willing to pay for it. What he paid to acquire it is irrelevant; the fact that another is willing to pay that price is

A thing is worth exactly what another is willing to pay for it. What he paid to acquire it is irrelevant; the fact that another is willing to pay that price is the issue. Since he only gets to sell it once, and he doesn't want to get shorted by discovering the buyer would have paid orders of magnitude more (but would gladly pay pocket change!), he's estimated how much someone will, someday, be willing to pay and he's holding out for that. Domain names have gone for as much or more. Milk is a huge industry. There's no reason "he's not going to get that much money for it. Ever." Since he put next to no money into it, keeping it as an amusement (an exercise in F-U money as others have noted), is a suitable payoff for him. Insofar as it may be worth a lot to someone, he's warding off uninteresting offers. Upshot: it's his, he can do what he wants with it, and he is. Funny how much consternation this is causing.